A:AnswerXBOX 360 should be a usb A input, so it should be okay. Software wise I would check the manual. But note that original controllers have a special input on the controller themselves, so this cable may not work with original controllers.
A:AnswerI imagine it is for storage reasons, it is a pretty long cable. Also, if for some reason the cable breaks you can replace it without replacing the controller, but make sure you get a USB that has microphone capabilities as this one allows you to plug in a gamer headset.